Netflix is ramping up a major charm offensive with Warner Bros. Discovery and US regulators as it pursues the media giant’s streaming service and Hollywood studio – and rival bidders fret that it may be working, On The Money has learned.

The lobbying blitz by Netflix’s Chief Executive Ted Sarandos – which is looking to soothe antitrust concerns not only with the Trump administration but also members of Warner Bros. Discovery’s board – has begun to chip away at Paramount Skydance’s lead in the auction, according to people with knowledge of the matter.

The emergence of Netflix as a serious contender comes as the bidding war enters its next stage. WBD is expected to hold a second round of bids in the coming days where players can up their offers or drop out of the process, sources close t

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